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A supplemental needs trust is a special type of trust established to help people qualify for Medicaid and to live while receiving Medicaid assistance. A supplemental needs trust is quite similar to a special needs trust in form and function, as discussed here, except that the term most often applies to Medicaid recipients, and is almost … [Read more...]
Protect Your Family: The (Mostly) Complete Guide To Special Needs Trusts
When I was a little child, my mother always told me that I was special. She told my siblings the same thing, and we believed it. Somewhere around Junior High, my classmates began to use the word special with a different meaning, calling someone “special” if they seemed different, or acted differently than what my classmates considered normal. … [Read more...]
Write it Down, Get it Right: Why Written Estate Plans Matter
Have you ever heard someone ask, “Can I get that in writing?” Probably you have. The idea is that if someone says something you think is too good to be true, you want them to write it down so you can hold them to what they said. Most people also think if something is written down, it will be legally enforceable. While this may not always be … [Read more...]
Why Creating Your Own Estate Plan is Better than Default Colorado Intestate Laws
Everybody is special, unique, and wonderful, and everyone’s life is a little bit different. Since you are unique, when it comes to the Colorado Intestate Laws, and your final wishes, why would you want to be subject to the default laws set up by the legislature to apply to everyone? The State Legislature makes the laws, and has set up default … [Read more...]
ARE YOU SURE? THE WORST ESTATE PLANNING ADVICE YOU EVER HEARD
Everyone likes to feel knowledgeable and give advice. Unfortunately all of the advice that people give is not always all that good. I frequently meet people who have been given incorrect advice. Some of the most common well-intentioned, yet incorrect, advice I have heard is listed here. Have you ever heard anyone say something like this? … [Read more...]
How NOT to work with your estate planning attorney
How NOT to work with your estate planning attorney I think that I get along with most people. Exceptions seem to include people who treat my children poorly, or basketball coaches who forget how to talk to me when I referee basketball. Other than that, and a few people who seem to not like my sense of humor, I think I do pretty well at getting … [Read more...]
What is “Mobile” Estate Planning Anyway?
I am not sure if mobile estate planning makes you think I am driving around playing music like an ice-cream truck, hoping to attract you by playing a recognizable song and offering a frozen treat. Or, perhaps mobile estate planning conjures up visions of a library bookmobile visiting your neighborhood, but that is not quite how it works. “Mobile” … [Read more...]
Hey Mr. DJ, Pump Up The Plan
Hey Mr. DJ, Pump up the Plan! My father has an interesting hobby; he buys and fixes broken sound equipment. This hobby, combined with his love of music, lends itself to a great side job – being a DJ. Ever since I was 14 years old, I have been working as a DJ or live sound technician. Never full time, but as a fun side job. I still DJ as part … [Read more...]
How Do You Get From Here to There: End of Life Planning
“It ain’t Over till It’s Over” - Yogi Berra I had a client call me Dr. Death the other day. I pointed out that I am not a real doctor, as I don’t have the right degree, and also said that just because I help people plan for what happens to their assets after they die, that doesn’t mean I am trying to get rid of them. In fact, quite … [Read more...]
What Happens To Your Assets When You Die?
How many times have you heard, “You can’t take it with you?” Usually, this is said in the context of encouraging someone to think less about their accumulated possessions, and more about spending time with friends and family. It is true you can’t take it with you, so the question becomes “What happens to all your stuff when you are no longer … [Read more...]
